Accounting for pensions receives more attention in the United States than in other countries. Discuss reasons that would explain why pension accounting has less emphasis in many foreign countries than the United States.
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Accounting for pensions receives more attention in the United States than in other countries. Discuss reasons that would explain why pension accounting has less emphasis in many foreign countries than the United States.
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- Why is it necessary for you to contribute to a pension? Why is there a need for persons to contribute more to the National Insurance Scheme? In your opinion, what are the important reasons for a country to increase the normal/minimum retirement age?Consider the economic debates about either 1) the effects of immigration on wages in receiving areas or 2) the effects of immigration on public finances in receiving areas. What are the main factual conclusions that you would draw from these debates?Look at Note 31.2, “Retirement Benefits.” AF incorporates estimates regarding staffturnover, life expectancy, salary increase, retirement age, and discount rates. Howdid AF report changes in these assumptions? Is that reporting method the same ordifferent from the way we report changes under U.S. GAAP?
- if the government should pursue the policies that have led to allowing the exclusion of certain income from US taxation. Examples of certain excluded income are child support, welfare payments and proceeds from life insurance policies. Please explain in a few sentences if you agree or disagree with these exclusions from income.For which of the following reasons might the US federal government offer insurance coverage? (Select all that apply) Because the value of the potential losses is too great for the private insurance industry Because the losses are too correlated for the private insurance industry. Because the US government is trying to earn a profit over the private insurance industry None of the above are trueDiscuss problems about “Income tax rate is too high” in a country? What solutions can be done to solve it?
- Discuss the VAT regime in Trinidad and the impact of VAT on the country’s economy.Answer should cover, but not limited, to the following: • VAT registration• Time of supply • Place of supply • VAT rates• VAT Filing requirements & reporting obligations• Penalties• Legislative Authority of VATWhat government programs are available to cover long-term care expenditures in the United States? How do the government programs affect the demand for private long-term care insurance by families who are currently ineligible for government-financed long-term care insurance?Income taxation in the United States began in an effort to fund which of the following? the Union military Social Security Internal Revenue Service
- explain in full any tax advantage we get from increasing pension contributions and if there is a cap on the amount we can contribute? British taxationMany students attending college in the United States find themselves having to take out loans to attend school while obtaining their education. Do you believe that the special for AGI deduction for students should be made permanent? Also, do you believe that the amount offered as a maximum deduction is too high, too low, or just right? What would be the impact of changing it?Employers that want to use a per diem rate to reimburse employees' lodging, meals, and incidental expenses on business trips within the continental U.S. (CONUS) can use either the IRS's high-low method or a reimbursement rate provided by the General Services Administration used by the federal government to reimburse federal employees True False
